Pradhan Mantri Mudra Yojana (PMMY) – Funding the Unfunded

Pradhan Mantri Mudra Yojana (PMMY) is aimed to attain development in an inclusive and sustainable manner by supporting and promoting partner institutions and creating an ecosystem of growth for micro enterprises sector.

Basically, MUDRA Yojana is an initiative to fund the small business in India. The Indian Central Government has already disbursed Rupees 1 Lakh Crore in loans under the scheme across India. According to the official website of MUDRA, 26421492 number of loans has been sanctioned under MUDRA Yojana till February 5, 2016.

What is MUDRA
Micro Units Development & Refinance Agency Ltd. (MUDRA) is an institution for development and refinancing micro finance institutions such as banks, NBFCs, MFIs and Other financial intermediaries, which are in the business of lending to manufacturing, processing, trading and service sector activities whose credit needs is less than Rs. 10 lakh.

MUDRA provides refinance Support to banks, NBFCs / MFIs for PMMY. Other than the refinance product, MUDRA will also provide development support to the sector through other products. The other product offerings as depicted in the diagram below will be targeted across the spectrum of beneficiary segments.

MUDRA Products

How to Get a Loan Under Pradhan Mantri MUDRA Yojana

Pradhan Mantri Mudra Yojana (PMMY) is open and is available from all Bank branches across the country. However there is certain eligibility criteria to get a loan under MUDRA Yojana. Any individual including women, proprietary concern, partnership firm, private limited company or any other entity are eligible applicant under PMMY loans.

Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has formulated three Schemes to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur:

Shishu: Loans upto Rs. 50,000/-

Kishor: Loans above Rs. 50,000/- and up to Rs. 5 lakh

Tarun: Loans above Rs. 5 lakh and up to Rs.10 lakh

The MUDRA loans under the PMMY can be taken from the approved Non Banking Finance Companies (NBFCs), Micro Finance Institutions (MFIs), Public/Private Sector commercial banks and Regional Rural Banks (RRBs) across India. The loans will be sanctioned by the lending institutions as per the eligibility.

The borrowers who wish to avail MUDRA loan assistance under PMMY can contact directly to the banks, partnered financial institutions and non banking finance companies or the MUDRA nodal officers.

MUDRA has identified a total of 97 Nodal Officers across the country at various SIDBI regional/branch offices to act as “First Contact Person” for MUDRA. Below are the links to access the Toll free helpline numbers, list of Nodal officers, banks nodal officers, PMMY mission office contact details and PMMY offices in Mumbai.

Sales achieved during the current financial year up to the date of submission of application.

Memorandum and articles of association of the company/Partnership Deed of Partners etc.

Asset & Liability statement from the borrower including Directors & Partners may be sought to know the net-worth in the absence of third party guarantee.

2 copies of Photographs of each Proprietor/ Partners/ Directors.

Who can avail the MUDRA loan under PMMY
All non-farm sector income generating activities such as manufacturing, trading and services whose credit needs below Rs. 10 lakh are known as MUDRA Loans under Pradhan Mantri Mudra Yojana (PMMY).

MUDRA Loan Application Form for Shishu

Click on image to view the full size application form.

Mudra Loan Bank Application Form for Sishu

The state wise details of loans/money sanctioned under the PM MUDRA Yojana can be found at http://www.mudra.org.in/PMMYReport

For further information on PM MUDRA YOJANA, please visit official website at: http://www.mudra.org.in

Dear Sir,I would like to apply for this loan {Kishore}yojna,but looking into the terms & condition there is one condition of IT returns but the fresher start business don’t have IT returns is there any way only one document is not there please suggest.Thankyou

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